A machine originally had an estimated useful life of 12 years, but after 8 complete years it was decided that the original estimate of useful life should have been 15 years. At that point the remaining cost to be depreciated should be allocated over the remaining: Multiple Choice 3 years 4 years O 20 years O 15 years 7 years Cardco Inc. has an annual accounting period that ends on December 31. During the current year a depreciable asset that cost $44,000 was purchased on September 2. The asset has a $4,400 estimated salvage value. The company uses straight-line depreciation and expects the asset to have a six-year life. What is the total depreciation expense for the current year? Multiple Choice O $1,980.00 $6,600.00 $2,200.00 $2,444.44 $2,750.00 A company had average total assets of $900,000. Its gross sales were $1111,000 and its net sales were $982,000. The company's total asset turnover is equal to: 0.81 1.13 O O 1.09 1.23 0.92